Credit Limit usage

[vysakh]

There is this recommendation to keep the usage under 30% of the limit, but where does this limit apply? Is it per card? per bank? overall?

If I have one card with low limit and high usage (>30%) and another one with high limit but low usage (<10%) and if the usage and limits are combined, then the usage goes to less than 30%, will that affect the credit score? (Repeated occurrence and not just a one off case)

 

[chacks18]

I have CIBIL Subscription from last march, I refresh my score regularly to check what factors usually affect the score most.
As per my personal experience, all of my outstanding amounts were reported by banks almost on a monthly basis.
Whenever there was outstanding amount reported by banks there was lowest of 1 to highest of 15 points difference I noticed, in my case.
So yes, it definitely affects the score negatively if any outstanding amount is there in your cards or especially loan accounts for pay later services. I'm not 100% sure about If the limits are also combinedly considered as the outstanding, but it should definitely be considered (common logic)

I was also curious about this utilization thing, as it is flagged under High Impact. So I'm planning to clear my dues making payments before statement generation as mostly all the banks report the usage as per the statement. I appreciate if anyone confirms if this will work smoothly.

 

[LUKA]

There is this recommendation to keep the usage under 30% of the limit, but where does this limit apply? Is it per card? per bank? overall?

If I have one card with low limit and high usage (>30%) and another one with high limit but low usage (<10%) and if the usage and limits are combined, then the usage goes to less than 30%, will that affect the credit score? (Repeated occurrence and not just a one off case)

I a bill generation you can say. And you need to check date on when bank reporting to CIBIL.

 

[Kuldeep khola]

There is this recommendation to keep the usage under 30% of the limit, but where does this limit apply? Is it per card? per bank? overall?

If I have one card with low limit and high usage (>30%) and another one with high limit but low usage (<10%) and if the usage and limits are combined, then the usage goes to less than 30%, will that affect the credit score? (Repeated occurrence and not just a one off casem

 

[Kuldeep khola]

Means All card total credit limit ka less then 30% use krna h . individual card ka 30% p upar use krne p cibil score p effect nhi hoga .

 

[jatinkrmalik]

IMHO, it doesn't really matter that much. If you pay your bills on time and are not regularly maxing out your credit cards, once in a while even going over 70% is okay. Just don't make it a habit.

 

[TechnoFinoTechnoFino is verified member.]

There is this recommendation to keep the usage under 30% of the limit, but where does this limit apply? Is it per card? per bank? overall?

If I have one card with low limit and high usage (>30%) and another one with high limit but low usage (<10%) and if the usage and limits are combined, then the usage goes to less than 30%, will that affect the credit score? (Repeated occurrence and not just a one off case)

its per card and per total credit limit... both... I'll suggest you to follow this video - How To Maintain Credit Utilization Ratio Under 30% | Steps You Must Follow | Pro Tips 🔥🔥🔥 -

 

[22sumit]

its per card and per total credit limit... both... I'll suggest you to follow this video - How To Maintain Credit Utilization Ratio Under 30% | Steps You Must Follow | Pro Tips 🔥🔥🔥 -

How does utilization ratio work for cards having shared limits? I do need to maintain <30% utilization for each card separately or as a whole?

 

[bhaveshS]

How does utilization ratio work for cards having shared limits? I do need to maintain <30% utilization for each card separately or as a whole?

whole if cibil report only one if not then not required

 

[22sumit]

whole if cibil report only one if not then not required

I checked my last cibil report and it reports whole limit of 6L for each card separately. Don't know what's going on there.

 

[bhaveshS]

I checked my last cibil report and it reports whole limit of 6L for each card separately. Don't know what's going on there.

which bank it is?
You need to consider whole for utilization don't consider for seperate

 

[22sumit]

which bank it is?
You need to consider whole for utilization don't consider for seperate

HDFC, I'm holding Millenia and tataneu infinity cards

 

[AritraSaha]

HDFC, I'm holding Millenia and tataneu infinity cards

Is the limit is combined? For two cc?

 

[bhaveshS]

HDFC, I'm holding Millenia and tataneu infinity cards

Then consider shared limit only

 

[jeevanreddy58]

Is there any way for a bank to know the credit usage of previous months thorugh Cibil ? I think they only know last month's credit usage.. is my understanding correct ?